Kalshi Requests En Banc Rehearing in Sixth Circuit Over Ohio and Tennessee Rulings

Odaily News: Prediction market platform Kalshi filed a petition for en banc rehearing with the U.S. Court of Appeals for the Sixth Circuit on the 13th, requesting that the full court reconsider the three-judge panel's rulings in "Kalshi v. Schuler (Ohio)" and "Kalshi v. Orgel (Tennessee)." In late September, the three-judge panel ruled against granting Kalshi a preliminary injunction against the Ohio gaming regulatory and enforcement agency, while also vacating a previously issued preliminary injunction against the relevant Tennessee agency. In its petition, Kalshi argued that the three-judge panel misinterpreted the Commodity Exchange Act in two ways, including whether federal securities law preempts state gaming law and whether sports event contracts constitute "swaps." Kalshi stated it is still waiting for the right timing to file a petition with the Supreme Court.